Saudi Arabia buys billions of Egyptian companies

The Saudi Egyptian Investment Company, which is affiliated with the Saudi State Investment Fund, the Saudi Sovereign Fund, has acquired stakes in 4 Egyptian companies.

The companies in which the stakes were acquired included: iFinance for Financial Investments, Alexandria Container and Cargo Handling Company, shares in Abu Qir Fertilizers and Chemical Industries and Alexandria Container and Cargo Handling Company for a total of LE 24.8 billion.

1- Execution of transactions through the BLOCK TRADING mechanism on the Egyptian Stock Exchange for iFinance for Financial and Digital Investments shares for 462,222,222 shares with a total transaction value, including the process of transfer of ownership of GBP 7,499,555,552.

2- Execution of transactions through the BLOCK TRADING mechanism on the Egyptian Stock Exchange on the shares of Alexandria Container and Cargo Handling Company in the amount of 297,950,680 shares with a total value of the transaction, including the transfer of ownership of 3,020,475,019 GBP.

3- Dealing through the BLOCK TRADING mechanism on the Egyptian Stock Exchange for shares of Abu Qir Fertilizers and Chemical Industries for 250,122,208 shares with a total transaction value, including the process of transfer of ownership of GBP 7,272,303,198.

4- Transactions through the BLOCK TRADING mechanism on the Egyptian Stock Exchange for shares of Egypt for Fertilizer Production – MOPCO, for 57,279,308 shares with a total value of the transaction, including the transfer of ownership of GBP 7,100,486,218.

Source: Cairo 24

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